RAS Technology Holdings FY24 Update

RAS Technology Holdings Limited (ASX: $RTH) has reported a record FY24 with annualised monthly recurring revenue (AMRR) reaching $18.9 million, reflecting a 25% increase from December 2023. The unaudited revenue from customers for FY24 stands at approximately $16.1 million, marking a substantial growth of 38% compared to the previous corresponding period.

Executive Commentary on FY24 Performance

RAS CEO, Stephen Crispe, expressed satisfaction with the company's progress in FY24, emphasizing successful partnerships with Playbook Engineering and Stake.com. He highlighted the commitment to delivering value and fostering sustainable growth across market segments, focusing on innovation within the racing and wagering sector and the growing momentum in international markets. Crispe also mentioned the strong conclusion to FY24, with key deals progressively coming online, increased recurring revenue, and a healthy and diverse pipeline, positioning the company well for significant revenue and profit growth in FY25.

Summary of FY24 Results and Outlook

RAS Technology Holdings achieved a record FY24 with substantial revenue growth driven by successful partnerships and key initiatives. The company's AMRR reached $18.9 million, and the annual revenue from the Playbook Engineering partnership exceeded $1.15 million. The company anticipates continued robust revenue growth throughout FY25, driven by the increasing adoption of its services and the ongoing expansion of its partnership with Playbook Engineering. Stake.com also successfully launched its new racing offer, with plans to introduce additional betting options and enhance content offerings to cater to its global customer base. RAS CEO, Stephen Crispe, highlighted the company's strategic focus on innovation and its growing momentum in international markets, positioning the company for continued success. The strong conclusion to FY24, with key deals progressively coming online, increased recurring revenue, and a healthy and diverse pipeline, positions the company well to achieve significant revenue and profit growth in FY25.